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Article

Title: Palm Gets Eager Hands on New Cash, Executives

Author: Carson, Phil Article Type: Company
Source: RCR Wireless News, v26 n22 p13(1) Publication Date: Jun 11, 2007
  ISSN: 1533-0796
URL of Publication: http://www.rcrnews.com

Palm Inc. claims it will move from a less than 3 percent share of the market for mobile computing to being a sector leader, but analysts are skeptical. The declaration of intention follows an inflow of $325 million of private equity, $400 million in additional borrowing, and the news that two Apple Inc. veterans are joining the company's Board, whose presence may attract new engineering talent to the company. It also follows the introduction of Foleo, a new screen-and-keyboard device from the company. One analyst claims it looks 'like a hail Mary pass.' The company's CEO, Ed Colligan, announced that the next generation of products would take 18 months to come to market, which many analysts believe is too long to catch up or surpass the competition. Many speculate that the company's new products now in development will incorporate touch screen technology. Others point out that the company needs to improve on multiple fronts, including size, features and prices, and that it would be difficult to advance on all these fronts. Many analysts believe the company would be lucky to hang onto 3 percent of market share.

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Palm Inc

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